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Ethiopia : US$45 million grant agreement signed between AfDB and AUC
Publish Date : 28-Aug-2013
On 20 August, US$45 million grant agreement was signed between the African Development Bank (AfDB) and the African Union Commission (AUC) supporting the Pan African University.
The grant which comes from AfDB Group's concessional window, the African Development Fund, would support the African Union towards establishing the Pan African University aiming at boosting Africa's competitiveness and growth through the creation of high quality higher education and research capabilities.
During the signing ceremony in Tunis, AfDB Vice President in charge of Agriculture, Human Development and Governance, Aly Abou-Sabaa, said, "The Bank's support to the Pan-African University is a clear demonstration of our commitment to play a key role in Africa's transformation."
He added, "The AfDB has an active human development portfolio of over 70 projects totaling more than USD2 billion demonstrating our commitment to skills development and science technology."
The AfDB will be investing in accordance with its Ten Year Strategy 2013-2022, in skills and technology for improving competitiveness.
AU Commissioner for Human Resources, Science and Technology, Martial De-Paul Ikounga, said, "AfDB's decision to support the Pan African University has breathed new life into the project."
He added, "the project would not have been able to materialize without the support of such a powerful partner as the AfDB."
De-Paul Ikounga said, supported by AfDB's expertise and credibility, "the Pan African University ambitions to compete with Western universities in attracting brilliant young Africans, poised to become Africa's pride."
